Guideline Value for PILLAIYAR KOIL STREET (NEAR PANCHALIAMMAN KOIL STREET)

Pillaiyar Koil Street (Near Panchaliamman Koil Street) guideline value

The current guideline value of Pillaiyar Koil Street (Near Panchaliamman Koil Street) is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village and falls under the Kodambakkam SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Pillaiyar Koil Street (Near Panchaliamman Koil Street) has changed

The guideline value for Pillaiyar Koil Street has seen several revisions over the years. In 2007, the value was Rs 1,150 per sq.ft, which dramatically increased to Rs 6,000 per sq.ft by 2012, marking a significant rise of 422%. However, from 2012 to 2017, the value decreased to Rs 4,020 per sq.ft, a decline of 33%. The 2017 revision brought the value back up to Rs 6,000 per sq.ft in 2023, reflecting a 49% increase. The latest revision in 2024 has set the guideline value at Rs 6,600 per sq.ft, which is a 10% increase from the previous year.

The register does not have figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 474%.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value for these streets is Rs 6,000 per sq.ft, placing Pillaiyar Koil Street's 2024 figure above that median.

• Pillaiyar Koil (Near 100 Feet Road): Rs 6,600 per sq.ft (2024)
• Pillai Street: Rs 5,000 per sq.ft (2024)
• Peter Raja Street: Rs 6,000 per sq.ft (2024)
• Perumal Koil Street: Rs 6,000 per sq.ft (2024)
• Perumal Koil Garden Street: Rs 6,000 per sq.ft (2024)
• Poonthamalee High Road: Rs 16,500 per sq.ft (2024)

Stamp duty and registration fee for property in Pillaiyar Koil Street (Near Panchaliamman Koil Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total fees together to Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Pillaiyar Koil Street (Near Panchaliamman Koil Street)?

The Kodambakkam Sub Registrar Office covers Pillaiyar Koil Street. The office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Arumbakkam

The guideline value plays a crucial role in the registration process when buying or selling property in Arumbakkam. It is the basis for calculating stamp duty and registration fees, which are mandatory at the time of property registration. Buyers must ensure they are aware of the current guideline value to understand the financial implications of their property transactions.

When a property is sold, the guideline value is considered to ensure that the transaction is recorded accurately. This value helps maintain transparency in property dealings and ensures that the government receives the appropriate taxes from property transactions.

Frequently asked questions

What is the current guideline value of Pillaiyar Koil Street?

The current guideline value of Pillaiyar Koil Street (Near Panchaliamman Koil Street) is Rs 6,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,150 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, representing an overall increase of 474% over the years.

What are the registration fees for buying property in this area?

The registration fees are calculated based on the guideline value, which is Rs 6,600 per sq.ft. For a 1,000 sq.ft plot, the total registration fee would be Rs 1,32,000.

Which office handles registrations for Pillaiyar Koil Street?

The Kodambakkam Sub Registrar Office handles registrations for Pillaiyar Koil Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What is the land classification for Pillaiyar Koil Street?

The land classification for Pillaiyar Koil Street is Residential Special Type - I, indicating its suitability for residential purposes.